Weekly Review | 11 October 2019

Gold Weekly Review

Technical Observation

Last week, after a drastic increase in value, gold failed to break above 1517.61. Gold however is above 50.0% fib level, 1497.39. While the price is contained above the 50.0% fib  level, I expect further momentum to the upper side and should break above the daily high of 1535.60 towards 1600.00 or even higher. On this chart, sell positions looks much riskier but if the price breaks below 50.0% fib level, then this may provide and avenue for short positions towards the daily low of 1459.11.

Trade Recommendations

Rebuy Gold from 1497.39.

Silver Weekly review

Technical Observation

Silver is in an active downtrend. Last week, we saw a possible retracemement to the upperside but could not reach the 50% retarcement level. While the price is below this level, 17.819, this remains to be the correct place to sell this item from. Buying, or holding onto a buy position on this symbol does not look really good and may not be recommended, but in case the price breaks above  the 50.0% fib level, 17.819, then this will be an ideal place to consider a buy position towards  18.742.

Trade Recommendations:

Resell silver from 17.819.

CAC40 Weekly review

Technical Observation 

Few days ago on  Second October, CAC40 crashed and ended up establishing a support around 5380.5. This is a key level and while the is still being contained above it, We're looking for buy orders towards the following levels 5462.8, 5508.8, 5546.0, and 5583.2. If these levels are broken, then a momentum towards the daily high, 5703.5 is expected. On this chart, as it is now, only buy positions can be recommended, but in case the price goes below 5388.5, then this will be an ideal sell place.

Trade Recommendations:

Buy CAC40 towards 5703.5, or wait and sell a break below 5388.5.

TRADE METALS WITHOUT SWAPS!

Imelda Maseno
Analyst of «FreshForex» company
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